Magna Mining

Cartier Resources trades on the Venture Exchange with ECR.

Magna Mining has expanded the R2 footwall zone at the Levac Mine in Sudbury, Ontario, and reported initial results from the near-surface west main zone, where surface drilling returned 4% nickel, 1.7% copper, 3.5 grams per ton combined platinum, palladium, and gold, and 8.3% copper equivalent all over 4.6 meters.

and a broader zone of 2.9% copper equivalent over 32.9 meters, adding to ongoing R2 football zone results that have included individual veins grading 9.5% copper and 23.5% copper equivalent.

With 597 feet of underground development completed over July and August and refurbishment of the production hoisting infrastructure continuing to advance, the company is working toward a formal mine restart decision.

Magna Mining trades on the TSX with NICU.

Nucor Gold has reported one of the widest and highest grade thickness intercepts to date at the Boyne Gold deposit with the Enchi Gold Project in Ghana, an RC Hole 411 returning 2.5 grams per ton gold over 69 meters.

That included 6.4 grams per ton over 24 meters as part of an 80,000 meter drill program underway at a project where a pre-feasibility study was completed back in June.

So it could be a double.

We, um, have a question on Magna Mining.

What does JF think of Magna Mining and Jason's ability to make this a profitable mine? This question coming from Chad on Instagram.

Jason's the CEO, I imagine.

Yeah.

Now, the big raises continue for select juniors.

Magna Mining closed a $140 million Canadian dollar strategic investment by Peru's Alpayana, which gave it a 19.9% stake, while Thesis Gold closed a $59 million Canadian bought deal financing in which Anger Gold Ashanti invested 20 million dollars for a 9.9% stake and Radisson Mining Resources closed a 57 million Canadian strategic investment by Agnico Eagle Mines for a 10.5% stake Joe apart from the quantums raised all of these financings were for projects in Canada is there anything that we can or should surmise from this

Yeah, but we have seen Canada, the US, Australia being the preferred places that people want to spend money, either in development or exploration.

Canada is around, over the last five years, is about $3.22 billion in exploration expenditures every year, mostly on gold, then down copper, and then nickel.

And here's what you need to know this morning.

Magna Mining has closed its Canadian $140 million strategic private placement with Alpayana.

They purchased about 62.5 million shares at $2.25 per share, giving it a 19.9% stake in Magna, alongside board nomination rights and participation rights in future financings.

The proceeds will be used to advance Magna's copper, nickel, and precious metals projects in the Sudbury Basin of Ontario.

It's anchored by the producing MacReady West Mine and a development pipeline that includes LeVac, Crean Hill, Podolsky, and Shakespeare.

Magna Mining trades on the TSX as NICU and on the OTCQX with MGMNF.

Perpetual Resources is reporting tangible construction progress at the Stibnico project in central Idaho.

Autoclave components are being fabricated at a facility in Europe.